Using an annuity within a trust is not usually necessary. If your attorney has a special reason for doing so, we naturally set the annuity up as instructed. However, since annuities are already tax deferred, already have a named beneficiary, and are probate free, they are often not needed at all..
Related posts to should i put my annuity in a trust
How you put an asset into a trust will change the type of treatment it receives. While annuities are contracts between an insurance company and a living person, ownership of the annuity can be put into a trust if it suits the needs and interests of the annuitant..
Q: Should an annuity be put into a revocable living trust? A: Although there is a difference of opinion whether an annuity should be funded into the trust .
Should that person become incapacitated, a successor trustee can take over the oversight of the trust, and thus the annuity. In this case, the control of the annuity would pass on to the successor trustee without a protracted conservatorship process..
It depends on "why" you have a Living Trust. If it is to avoid probate then no, you do not need to put your annuity in it. An annuity transfers by contract and avoid probate. If it is for privacy then no, you do not need to put your annuity in it. Again, an annuity transfers by contract and as such is not a public record..